Peak global standards organisation the Association for Co-operative Operations Research and Development (ACORD) has shifted its focus from selling the message of uniform standards to assisting companies with implementation.

ACORD’s Australia Program Manager Alan Stitzer says that as the industry standards become more developed, implementation time is falling and industry take-up is increasing.

The organisation’s Vice President Standards, Lloyd Chumbley, acknowledges a slow take-up in Australia but says insurers recognise that greater efficiencies are possible.

“We are becoming more involved with implementation and helping nurse the industry along to see the advantage of the standards”, he told insuranceNEWS.com.au.

“We are beginning to see a bigger take-up because so much has been developed already and we can cut development time significantly.”

Mr Stitzer says insurance companies have cut their system development time from six months to three or four.

He says the global flow of information is speeding the process. South African insurers have used messaging structures developed in Australia and the South Africans’ development of business and personal lines is being modified for use here.

He believes the South Africans’ work on claims will be adaptable to Australia and says work in London on catastrophe exposure reporting will also prove valuable to Australian companies.

ACORD has forms awaiting approval in Australia for certificates of currency for home, private motor and professional indemnity (PI) insurance. It plans to have them voted on, approved and available to members by about mid-year.

Three commercial applications – PI, industrial special risks and business package – are also under development.